ByBit Becomes the First Licensed Crypto Exchange in the UAE
ByBit, one of the largest cryptocurrency exchanges in the world, has become the first exchange to receive an SCA license in the UAE. The crypto platform is officially licensed by the UAE Securities and Commodities Authority (SCA) to operate as a Virtual Asset Platform Operator. Under the SCA’s Virtual Asset Platform Operator License, Bybit will offer regulated virtual asset trading, brokerage, custody, and fiat conversion services in the UAE. “Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency,” Ben Zhou, Co-founder and CEO of Bybit, said in a statement. “The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.” ByBit Gets SCA Approval in UAE Bybit initially received its In-Principle Approval (IPA) from the SCA in February 2025 with the help of the Bl...